Feeder cattle pressured by higher move in corn

Feeder cattle pressured by higher move in corn

At the Chicago Mercantile Exchange, live cattle were mostly lower, and feeders were sharply lower watching corn and the direct markets.  August live cattle closed $.05 higher at $169.75 and October live cattle closed $.50 lower at $172.95.  August feeder cattle closed $4.42 lower at $227.72 and September feeders closed $4.20 lower at $231.42.

It was another relatively quiet day for direct cash cattle business.  Bids were floated in the North at $290 dressed and $182 to $183 live, but were passed.